BØK 3541 Managerial Accounting and Control
This course builds on BØK 3411 Finance and Managerial Accounting I, BØK 3421 Finance and Managerial Accounting II og BØK 3531 Financial Accounting and Financial Statement Analysis. The course is structured according to a generic management cycle and relate to real business problems. The course focuses on planning and management of value creation process and relevant decision support for value creation, both in situations where the strategy is given and in situations of strategic corrections, based on learning.
The students shall acquire knowledge of:
- How the field of management accounting and control relates to value creation, and how the strategic process can be managed by means of the balanced scorecard.
- Business planning by means of budgets.
- The resource-based and the positioning-based view as main explanations of value-creation and competitive advantage.
- Value chain descriptions of the firm as basis for process and activity analyses.
- Cost relevance
- Activity-based costing.
- The lean philosophy and multi-dimensional process analysis.
- Value analysis, including revenue and cost relevance.
The students shall acquire skills about:
- The causality and suitability of objectives and measures in a balanced scorecard model, and be able to elaborate strategy maps in concrete cases.
- The preparation of budgets and analysis of budget information with respect to the financial implications of intended activities
- The allocation and analysis of costs in an activity structure, including allocation of costs between departments and between activities, from activities to products and customers, and between used and unused capacity.
- The preparation and assessment of profitability analyses.
After taking the course, the students shall acknowledge management control as a contextual field, where conflicts of interest and ethical norms affect management actions .
Part 1: Planning and management of value creation process
- About Managerial Accounting and Control
- Goals and objectives
- Strategy maps and strategic issues
- Measures, validity and reliability
- The budget roles and interaction with other tools
- The budget as a tool to test the financial and capacity-related impact of possible plans
Part 2: Decision Support for the value creation
- Value drivers, cost drivers and the value chain analysis
- Resource and cost concepts
- cost relevance
- Costing with emphasis on ABC
Part 3: From analysis to improvement
- Lean philosophy
- Multidimensional process analysis
The course consists of lectures, assignment reviews by the lecturer and self-tuition (reading the syllabus and doing exercises/assignments that are both mandatory and voluntary).
Throughout the course, the students shall discuss and solve a number of case–oriented business problems from the private and public sector.
The plenary sessions will consist of lectures on parts of the syllabus and review of assignments. Students are expected to work on those parts of the syllabus that are not covered by the lectures or the assignment reviews. The lectures and assignment reviews are based on students having prepared for the lectures (i.e. that the students have read the syllabus and have solved the assignments before the lectures start).
For students to receive feedback on their progress and to enable them to gain experience in solving exam relevant tasks, there will be posted automatically tests on Itslearning during the course.
Students are expected to use spreadsheets (e.g. Excel) when solving and submitting assignments. Students must use It's learning to submit mini-exercises.
When course is delivered online, lecturer, in cooperation with the Academic Servises Network, will organize an appropriate combination of digital teaching and lectures. Online students are also offered a study guide to contribute to progression and overview. Total recommended time spent for completing the course also applies here.
Higher Education Entrance Qualification
(BØK 3422 Managerial Accounting and BØK 3423 Finance), (BØK 3411 Finance and Managerial Accounting I and BØK 3421 Finance and Managerial Accounting II), (BØK 1113 Managerial Accounting and BØK 1121 Finance I) or equivalent.
|Mandatory coursework||Courseworks given||Courseworks required||Comment coursework|
|Voluntary||During the semester a set of voluntary assignment is provided.|
|Comment coursework:||During the semester a set of voluntary assignment is provided.|
|Exam category||Weight||Invigilation||Duration||Support materials||Grouping||Comment exam|
Form of assessment:
Internal and external examiner
Examination every semester
|Form of assessment:||Written submission|
|Support materials:|| |
|Resit:||Examination every semester|
Teaching on Campus
Other in classroom
Prepare for teaching
Group work / Assignments
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.